 |
|
|
|||||
After filing for Chapter 11 bankruptcy protection for a second time this week, Rite Aid is already planning to wind down operations at underperforming locations in at least nine states, court documents show. The long-suffering drug store chain, which is scrambling to sell parts of its business less than one year after emerging from bankruptcy the first time, has identified 47 locations that it will initially close as is negotiates with potential buyers and moves through the Chapter 11 process yet again. Rite Aid has 1,277 pharmacies, three distribution centers, and more than 24,000 employees across 15 states, and its hoping to sell many of its locations to preserve jobs, minimize the impact on customers, and extract the most value out of its business operationsespecially its prescription files, which it sees as its most vaulable assets. However, it saw little or no value in the initial stores that were marked for closure in this weeks filing, and so it has either started the process of closing the stores down or will do so soon. Fast Company has reached out to Rite Aid for more details about the timeline of these store closures. Will all Rite Aid locations eventually close? Some news outlets have falsely reported that Rite Aid is already planning to close all of its locations, but the company has made no such announcement. While many stores will no doubt shutter as the bankruptcy process unfolds, others could be sold to new owners. Which stores will be sold and how many is unclear. What is clear is that this will be a fast-moving process, as Rite Aid believes time is of the essence. Why is this process moving so quickly? This is not Rite Aids first time at the Chapter 11 rodeo. The company knows from its bankruptcy in 2023 that the longer it takes to secure deal with buyers, the more pharmacy customers its going to lose. That’s because people who get their prescriptions from Rite Aid are increasingly likely to transfer them elsewhere the more they read about the companys bankruptcy in media reports. A substantial customer exodus will make Rite Aid’s business less attractive to buyers. “The timeline proposed for the contemplated sale process is, in the Debtors business judgment, essential to preserving value and facilitating an orderly sale process, Rite Aid wrote in a court filing. Based on Rite Aids prior experience selling similar assets, the longer the sale process takes, the greater the value erosion through attrition in the meantime. This risk is entirely one-sided and to the Debtors detriment. Which locations are closing soon? According to this weeks filing, the following 47 locations are set to close and may already be in the process of doing so. (Based on a search of their Yelp pages, some may have already closed.) Rite Aid says it chose the locations based on factors such as underperformance and lack of proximity to competitors that might be willing to buy the locations. California 211 East 17th Street, Costa Mesa, CA 92627 1331 Wilshire Boulevard, Santa Monica, CA 90403 446 East Washington Blvd., Los Angeles, CA 90015 23 Peninsula Center, Rolling Hills Estates, CA 90274 3300 East Anaheim Street, Long Beach, CA 90804 1203 West Imola Avenue, Napa, CA 94559 1550 Hamilton Avenue, San Jose, CA 95125 501 South Gaffey Street, San Pedro, CA 90731 4840 Niagara Avenue, San Diego, CA 92107 32450 Clinton Keith Road, Wildomar, CA 92595 720 Sutton Way, Grass Valley, CA 95945 34420 Yucaipa Boulevard, Yucaipa, CA 92399 2751 Del Paso Road, Sacramento, CA 95835 1038 East Colorado Boulevard, Pasadena, CA 91106 6150 Van Buren Boulevard, Riverside, CA 92503 220 West East Avenue, Chico, CA 95926 1534 East Florence Avenue, Los Angeles, CA 90001 4774 West Lane, Stockton, CA 95210 4920 La Sierra Avenue, Riverside, CA 92505 Connecticut 56 Rubber Avenue, Naugatuck, CT 06770 113-115 Mill Plain Rd., Danbury, CT 06811 180 Main Street, Cheshire, CT 06410 Massachusetts 10084-02 1031 Main St., Clinton, MA 01510 New Hampshire 354 Winchester Street, Keene, NH 03431 19 Wilton Road Ste 1A, Peterborough, NH 03458 75 Portsmouth Avenue Unit 1, Exeter, NH 03833 New Jersey 75 South Main Street, Neptune, NJ 07753 403 Sicklerville Road, Sicklerville, NJ 08081 New York 55-60 Myrtle Avenue, Ridgewood, NY 11385 8222 18th Avenue, Brooklyn, NY 11214 5901 Bay Parkway, Brooklyn, NY 11204 50-15 Roosevelt Avenue, Woodside, NY 11377 60-26 Woodside Avenue, Woodside, NY 11377 Oregon 2521 South Sixth Street, Klamath Falls, OR 97601 700 S.E. 3rd Street, Bend, OR 97702 514 NE 181st Avenue, Portland, OR 97230 1400 West 6th Street, The Dalles, OR 97058 Pennsylvania 304 Market Street, Harrisburg, PA 17101 23 North Elm Street, Kutztown, PA 19530 3773 Peters Mountain Rd., Halifax, PA 17032 843 Rostraver Road, Belle Vernon, PA 15012 400 West Second Street, Berwick, PA 18603 1039 2nd Street Pike, Richboro, PA 18954 10941-01 Pittsburgh Intl Airport, Pittsburgh, PA 15231 209 Atwood Street, Pittsburgh, PA 15213 Washington 248 Bendigo Blvd S, North Bend, WA 98045 250 Basin Street SW, Ephrata, WA 98823
Category:
E-Commerce
Last week marked Trump’s first 100 days in officeand when it comes to climate policy, things are already pretty grim. In just three months, the president has elevated fossil fuels, pulled back billions from green investments, and implemented tariffs that make it harder to import renewable infrastructure. And that’s just the start. But despite Trumps relentless attacks on the environment, there are still some bright spotsfrom climate startups, from cities and states, and from nonprofits that are taking these actions to court. In a recent conversation, Fast Company senior editor Aimee Rawlins and executive editor Morgan Clendaniel discussed some of Trump’s most significant attacks on the environmentas well as the ways that people are pushing back. If you missed the subscriber-only event, you can catch the whole conversation in the video above.
Category:
E-Commerce
At a recent fundraising event, I stood backstage with a young woman waiting to give a speech in front of 550 people to honor her alma mater. She was visibly nervous; I watched as she paced, taking deep breaths to calm the adrenaline that was flooding her body, twisting her hands, and looking toward the stage door as if she might try to make a run for it. As a charity auctioneer who has spent more than two decades on stages around the world commanding rooms filled with thousands of people, I know that feeling. There were so many nights in the beginning of my career when I felt the same way. But spending 1,000-plus nights onstage has given me plenty of practice to learn what it takes to cultivate confidenceand keep itin my professional and personal life. Here are two easy mindset shifts that anyone can use to boost their confidence walking into any room. Find Your Strike Method Every time I walk onstage as the auctioneer, I bring a small gavel to bang down three times to get the attention of the crowd. After many years of hearing the gavel crack three times against the podium, I associate the habit with the most confident version of me. On nights when I forgot my gavel, I started to use anything within reach to mimic the motion and sounda saltshaker from the table, a tube of lipstick, even a hockey puck when I was taking an auction at a hockey arena. I also found I could use this offstage as well. Whenever I am about to step into a difficult meeting or a big presentation and find my confidence starting to recede, I visualize the gavel strike. The familiar method reminds me to throw my shoulders back, put a smile on my face, and walk in like I own the room. For my book The Most Powerful Woman in the Room Is You, I interviewed professional athletes, CEOs, and people at the top of their industry and realized that most successful people have their own version of a strike method. Whether it be a mantra, an action, or a physical item, there is something that helps them conjure strength and confidence in the moments when they dont feel it. To cultivate confidence, spend time thinking about the moments when you feel your most powerful. Come up with your own mantra or action that you can use anytime you arent feeling your most confident, and let your strike method empower you to move forward. Nail Your Sales Pitch When it comes to shifting your confidence mindset, inner work is as important as anything you do in your personal or professional life. You may dream about building the biggest business in the world and spend hours designing your dream life, but if you havent mastered your sales pitch, you will always find yourself fumbling when asked a question about yourself. Sit down with a piece of paper in a quiet place and write down a list of everything you want people to know about you: what you are good at, what you do, where you are headed. If you find that you have written about things that you no longer want to be known for, simply cross them off the list. Once that list is complete, spend some time writing a 30-second sales pitch that describes these key details: who you are, what you are doing, and, most importantly, where you are headed. Articulating this vision and putting it into a concise sales pitch will put you in control the next time someone asks, So tell me about you. A few minutes before the nervous young woman stepped onstage, I walked over and gave her an unsolicited hype speech to help her own the moment. You are going to rock this speech, and everyone in the audience is ready to watch you command the stage. I saw her stand up taller, still nervous but now ready to take up space on the stage. Confidence ebbs and flows, so dont forget to surround yourself with people who believe in youand give you a hype speech on the days when you arent feeling the most confident.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||